The Philippine Stock Exchange index was down 49.82 points to 6,791.87, a 0.73 percent drop.
The broader all shares index was down 13.96 points to 4,104.02, a 0.34 percent drop.
Gainers edged losers 114 to 86 with 51 stocks unchanged. Trading turnover reached P17.78 billion.
The peso closed at 47.825 to the dollar, down from 47.82 on Wednesday.
The currency opened at 47.78 and hit a high of 47.76 and a low of 47.845. Trading turnover reached $820.06 million.
Japhet Tantiangco, analyst at Philstocks Financial Corp., said the market’s pullback comes on the back of investors “taking profit out of its rally in the preceding day.”
“The setback in the National Capital Region’s COVID-19 (new coronavirus disease 2019) situation also weighed on sentiment. According to the OCTA Research Group, the average daily case counts in the region from May 26 to June 1, 2021 increased by 8 percent compared to the preceding week,” he said.
Foreign funds were net buyers worth P1.89 billion.
Most actively traded Monde Nissin Corp. was down P0.38 to P13.10. Ayala Land Inc. was down P0.45 to P36.50. International Container Terminal Services Inc. was down P0.70 to P148.40. Alliance Global Group Inc. was down P0.06 to P10.64. Dito CME Holdings Corp. was down P0.31 to P9.75. Converge Information and Communication Technology Solutions Inc. was down P0.18 to P19.76. Aboitiz Power Corp. was down P0.50 to P22.90. BDO Unibank Inc. was down P1.30 to P105.20. Globe Telecom Inc. was down P24 to P1,811.
Leisure and Resorts World Corp. was up P0.09 to P1.65.